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U.S. stocks closed higher Friday, with the Dow Jones Industrial Average and S&P 500 each ending at record highs after major Wall Street banks JPMorgan Chase & Co. and Wells Fargo & Co. reported quarterly earnings.
The Dow Jones gained 409.74 points on Friday, or 1%, to close at 42,863.86.
The S&P 500 rose 34.98 points, or 0.6%, to finish at 5,815.03.
The Nasdaq Composite added 60.89 points, or 0.3%, to end at 18,342.94.
Shares of JPMorgan rallied 4.4% Friday, while Wells Fargo's stock surged 5.6%, according to FactSet data.
For the week, the Dow climbed 1.2%, while the S&P 500 and Nasdaq each gained 1.1%. All three U.S. stock indexes rose for a fifth straight week, marking the longest winning streak since May for the Dow and S&P 500.
The numbers: U.S. wholesale prices were unchanged in September and pointed to subdued inflation in the economy.
Economists polled by the Wall Street Journal has forecast a 0.1% increase.
Wholesale prices were muted last month in comparison to what consumers paid for goods and services.
A larger than expected increase in the consumer price index in September raised questions about whether the Federal Reserve would proceed with a planned reduction in interest rate in November.
In a recent Bloomberg interview, Anne-Sophie Corbeau, the former head of gas analysis at...
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by Bloomberg, via RigZone.com|Bloomberg News | Oil imports into China sank again last month,...
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By Alejandra Martinez | The Texas Tribune | FORT WORTH — Republican Christi Craddick cruised...
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